I understand exactly what you are saying, but it's hard to juxtapose that with quotes from the CEO about "eradicating elitism" and "liking to do things that can be perceived as politically incorrect. If we are getting flak, we think we are doing something right."
If LV wanted to "eradicate elitism", there are other ways to do so.
Creating limited editions that are higher priced and often harder to obtain is pretty much the opposite of "eradicating elitism". I think it actually creates it and that seems to be exactly what they want, regardless of what they say.
I want to say that he's referring to this specific collection when he said "eradicating elitism". Probably from his point of view, to own a highly detailed replica of these artworks at $4000 is quite a bargain compare to the real ones. In the NYTimes article, they did mention the process of recreating these artworks onto the canvas to print on the bag, which I think is quite cool. Also, this collection is not hard to obtain at all. It's available to everyone who wishes to own one. It's not a limited release.